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Goldplat plc

Gold futures settle at nearly 9-year high

Gold futures on Tuesday finished at their highest settlement since September 2011, with the metal’s climb back above the $1,800-an-ounce coming amid rising cases of coronavirus and doubts about the health of the global economy.

Gold saw “a classic case of the market allowing some early profit taking, clearing out some short term, [and] weaker participants then buying the dip in size to take gold higher,” Jeff Wright, executive vice president of GoldMining Inc., told MarketWatch.

August gold GCQ20, 0.28% rose $16.40, or 0.9%, to settle at $1,809.90 an ounce, wrapping up the session at the highest intraday level. Prices based on the most-active contracts logged the loftiest finish since Sept. 16, 2011, according to FactSet data.

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.